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November 24, 2021US PERSONAL INCOME AND OUTLAY, OCTOBER 2021 (Oct 2021 vs Sep 2021, seasonally adjusted annualized rate)
The US Bureau of Economic Analysis reports that US personal income increased $93.4 billion, or 0.5%. "The increase in personal income in October primarily reflected increases in compensation of employees and personal income receipts on assets that were partly offset by a decrease in government social benefits."
US personal disposable income increased $63.0 billion, or 0.3%. In real per capita terms, US disposable personal income decreased 0.3%.
US personal consumption expenditures increased $214.3 billion, or 1.3%.
Personal savings (disposable personal income minus personal consumer expenditures, interest paid, and transfers to government and the rest of the world) decreased $153.9 billion, or 10.4%. The personal savings rate was 7.3% of disposable income, down from 8.2%.
QUOTATIONS
The estimate for October personal income and outlays reflected the continued economic impacts related to the COVID-19 pandemic. In October, payments for pandemic-related unemployment benefits decreased. The full economic effects of the COVID-19 pandemic cannot be quantified in the personal income and outlays estimate because the impacts are generally embedded in source data and cannot be separately identified. For more information, see Effects of Selected Federal Pandemic Response Programs on Personal Income.
SOURCE
US Bureau of Economic Analysis. Press release, October 2021
Data retrieved from FRED, Federal Bank of St Louis, Table 2.6. Personal Income and Its Disposition, Monthly NIPA
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